@4bgi, @3ngj here...
Allow me to correct you. I don't think deadwood is the problem. Rather, they are merely a symptom of the larger mess. Deadwood primarily exists, I think, due to people putting their heads down and desperately trying to just stay out of the way of the rabid bull running through the china shop. After all, what else can they do while everyone around them keeps taking sniper fire?
Leaders who aren't allowed to lead ( several managers who moved their people around to protect them from this last LR got tossed out, despite being actual rockstars ), so-called senior folk who don't know how to define requirements ( I can't begin to tell you how many times design handed me one or two sentences written on a napkin, called it a spec, and wanted an app built in a few weeks... and then complained about the magical pony feature we didn't build, or the font, after not showing up to story planning meetings ), the systemic breakdown of leadership at the highest levels ( both before and after Robbins, not to mention the "kill all the people 'deal'" ), the absolute sh--e way Cisco treats people who actually devoted themselves to that company ( no raises, no stock, and FU for asking ) ... are all going to end that company in spectacular fashion and are all reasons why I bailed for something better a long time ago.
Which s---s. Cisco was awesome back in the day, but as Jobs pointed out a long time ago; terrible things happen to tech companies when sales guys are put in charge. Innovation dies. Cost-cutting begins. They can't put someone's actual corporate value into a spreadsheet, hit a button, and expect to end-result with a winning team. They seem intent on managing talent by cost-evaluation, only.
Years of stack ranking resulted in most teams dropping both their worst ( fired ) and their best ( LR'd or if smart bailed ). They ended up with a lot of cheap, ok-but-not-great, people and a smattering of actual talent who were desperately trying to keep the ship from sinking. Meanwhile, the ok-but-not-great folk didn't hire good talent, they hired people who were worse so there'd always someone to throw under the bus come ranking day. Slowly, these long-time useless people rose up into senior positions, by virtue of s---ing just a little bit less than the truly awful folk they had helped bring aboard, and held the actual talent under water until the bubbles stopped.
Flash forward to today. Cisco is burning everyone, regardless. Dedicated yourself to the company? Actually provided value? Deadwood? Long-time-useless? Doesn't mean a thing. If you're there for more than four or five years now, it'll be "see-ya, so-long, and thanks for all the fish!". H1-B and college hires are the new normal at that place, and year after year or even quarter after quarter, they'll hit that spreadsheet again to see who else they can cut in a desperate attempt to cut their way to success. S---s for the workers, but the higher-ups still get their cash so, oh well.
Welcome to the commoditized workforce.